Talent releases ‘More Than Money Salary Guide’
Talent is pleased to release ‘More Than Money Salary Guide 2022’. Please find the report here.
The report features salaries and contract rates for key tech positions in 2022, market insights from Talent’s Managing Director team and experienced recruiters, as well as hiring trends and predictions for the 16 cities in which Talent operates across EMEA, ANZ and the US.
The report showcases the most in-demand tech skills for 2022 and provides a range of stats on the local tech talent pool, skills trends, stats on the cost of living across multiple cities, and the benefits beyond salary that candidates are looking for.
Key findings include:
- Globally on average, counteroffers for tech roles are up 20-30%
- Candidates have 2-3 opportunities on the go
- Tech salaries are increasing 15-30% on average globally
- The ability to work from home is a non-negotiable for most candidates
Demand remains high for the following skills:
- Data Analytics
- Computer Networking
- Python (Programming Language)
- Amazon Web Services (AWS)
- C (Programming Language)
Industries that are thriving include:
- Information Technology & Services
- Hospital & Health Care
- Financial Services
- Computer Software
- Government Administration
Kevin Board, Talent Managing Director of London, reflected on the year the technology recruitment industry has had, and his predictions for 2022. “London is still undoubtedly the tech capital of Europe and it shows no signs of slowing down. The pandemic has highlighted the importance of being adaptable and embracing change. If you’re unwilling to progress with the times, there’s a strong chance you’ll get left behind and could lose your best talent. There’s no denying the dramatic shift COVID-19 has caused – especially regarding remote work. However, when we look at Inner-City London, the shift towards working remotely is perhaps not as drastic as other parts of the UK. Instead, higher salaries appear to be the main motivator for a new role. Candidates know their worth, with many getting a 20-30% salary increase when they switch to another role – as well as at least 2-3 opportunities at once. Counteroffers are getting higher due to this level of competition with larger salaries becoming the main motivator for taking a new role.”
James Davies, Talent Managing Director of Manchester, discussed the significant impact that COVID has had on the industry in 2021 and its expected effects for the next 12 months. “With a huge 80% of roles now becoming fully remote across the North, it’s safe to say the world of work as we know it has dramatically changed. Salaries are now more similar across the Northern regions than they used to be, closing the gap, and creating greater unison within this part of the country. Candidates are wanting the opportunity to work remotely, as well as greater flexibility for a better work-life balance. The market has dramatically changed, and I don’t think things will ever go back to the way they were pre-COVID. However, while the demand for remote working and increased flexibility has boomed, Manchester remains a hugely innovative hub for start-ups. Having been named the fastest-growing tech hub back in 2019, this still rings true in terms of role progression, tech diversity and digital scope. Tech talent with skills to enable projects in these areas will be in huge demand.”
The technology hiring market is hotter than ever before. As a $5 trillion global industry, it has significant power in both providing opportunities to the workforce as well as rapidly disrupting the international work landscape. With demand for skilled candidates through the roof with tech skill shortages across the globe, competition amongst businesses for top talent is rife. Not only are salaries increasing at unprecedented levels, but our findings showcase that if businesses are to get ahead, they need to offer benefits beyond a pay cheque.
* Figures are based on data provided to Talent from our clients, with additional sources cited.